AJS Impex Private Limited, through its Resolution Professional Hemant Kumar Shah, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Palak Agency Private Limited, the Corporate Debtor. The claim was based on a default in payment of an outstanding principal amount of Rs. 9,46,36,222/- and interest of Rs. 7,36,15,716/- as of 29.07.2023. The Operational Creditor, AJS Impex Private Limited, is involved in the business of trading iron and steel products and had supplied goods to the Corporate Debtor under invoices dated 31.01.2020 and 03.02.2020.
AJS Impex Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Palak Agency Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 9,46,36,222/- (principal) and Rs. 7,36,15,716/- (interest) as of 29.07.2023. The Operational Creditor is in the business of trading iron and steel products and supplied goods to the Corporate Debtor under invoices dated 31.01.2020 and 03.02.2020, totaling Rs. 10,41,36,222/-, of which Rs. 95 Lakhs was paid. The Operational Creditor submitted an interest ledger and confirmation of accounts dated 27.11.2020. The Corporate Debtor
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AJS Impex Private Limited, through its Resolution Professional Hemant Kumar Shah, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Palak Agency Private Limited, the Corporate Debtor. The claim was based on a default in payment of an outstanding principal amount of Rs. 9,46,36,222/- and interest of Rs. 7,36,15,716/- as of 29.07.2023. The Operational Creditor, AJS Impex Private Limited, is involved in the business of trading iron and steel products and had supplied goods to the Corporate Debtor under invoices dated 31.01.2020 and 03.02.2020.
AJS Impex Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Palak Agency Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 9,46,36,222/- (principal) and Rs. 7,36,15,716/- (interest) as of 29.07.2023. The Operational Creditor is in the business of trading iron and steel products and supplied goods to the Corporate Debtor under invoices dated 31.01.2020 and 03.02.2020, totaling Rs. 10,41,36,222/-, of which Rs. 95 Lakhs was paid. The Operational Creditor submitted an interest ledger and confirmation of accounts dated 27.11.2020. The Corporate Debtor
…One of the invoice dates for goods supplied by…
Another invoice date for goods supplied by…
Sign in to view related legal provisions.